PlainBillCongress, translated.Legislation. Context. Public interest.Motion to reconsider laid on the table Agreed to without objection.
Congressional Research Service
Version 81 · Passed House without amendment · Jul 11, 2007
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Declares the sense of the House that specified government action should be taken that protects buyers from unscrupulous mortgage brokers and lenders.
Declares that such action should: (1) enforce rules to eliminate unfair and deceptive practices in sub-prime mortgage lending; (2) encourage lenders to evaluate a borrower's ability to reasonably repay any mortgage loan; (3) establish clear minimum standards for mortgage originators; (4) require that disclosures clearly and effectively communicate necessary information about any mortgage loan to the potential borrower; (5) reduce or eliminate abuses in prepayment penalties; (6) address appraisal and other mortgage fraud; (7) raise public awareness regarding mortgage originators whose loans have high foreclosure rates; and (8) increase opportunities for loan counseling.
People & committees
Rep. Cummings, Elijah E. [D-MD-7] · D–MD
Legislative record
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Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 411 - 7 (Roll no. 609). (text: CR 7/10/2007 H7448-7449)
House roll call 609 · Individual votesPassed/agreed to in House: On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 411 - 7 (Roll no. 609).(text: CR 7/10/2007 H7448-7449)
House roll call 609 · Individual votesConsidered as unfinished business. (consideration: CR H7505)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on H. Res. 526.
Considered under suspension of the rules. (consideration: CR H7448-7451)
Mrs. Maloney (NY) moved to suspend the rules and agree to the resolution.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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Analyze H.Res.526 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.Res.526 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.Res.526 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.Res.526 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.